Beech Hill Advisors Inc. Raises Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Beech Hill Advisors Inc. grew its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 6.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,248 shares of the wireless technology company’s stock after buying an additional 1,884 shares during the quarter. QUALCOMM accounts for approximately 2.1% of Beech Hill Advisors Inc.’s holdings, making the stock its 11th biggest holding. Beech Hill Advisors Inc.’s holdings in QUALCOMM were worth $5,654,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in QCOM. WFA Asset Management Corp purchased a new stake in shares of QUALCOMM in the first quarter valued at $27,000. HWG Holdings LP purchased a new stake in QUALCOMM in the 2nd quarter worth about $30,000. Financial Connections Group Inc. bought a new stake in QUALCOMM in the second quarter worth about $32,000. Aspect Partners LLC boosted its position in shares of QUALCOMM by 71.8% during the second quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after buying an additional 74 shares during the period. Finally, Richardson Capital Management LLC bought a new position in shares of QUALCOMM during the first quarter valued at approximately $37,000. Institutional investors own 74.35% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on QCOM. Cantor Fitzgerald decreased their target price on QUALCOMM from $215.00 to $160.00 and set a “neutral” rating for the company in a research report on Tuesday, October 8th. JPMorgan Chase & Co. decreased their price objective on shares of QUALCOMM from $230.00 to $210.00 and set an “overweight” rating for the company in a report on Tuesday, September 17th. Citigroup dropped their target price on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a research note on Wednesday. Susquehanna lifted their price target on shares of QUALCOMM from $205.00 to $250.00 and gave the company a “positive” rating in a research note on Wednesday, July 17th. Finally, Hsbc Global Res lowered QUALCOMM from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $208.75.

QUALCOMM Price Performance

Shares of QCOM opened at $171.48 on Thursday. The company has a 50 day moving average of $168.86 and a two-hundred day moving average of $182.20. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. QUALCOMM Incorporated has a twelve month low of $104.33 and a twelve month high of $230.63. The company has a market cap of $191.37 billion, a price-to-earnings ratio of 23.05, a price-to-earnings-growth ratio of 1.71 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.21. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. The firm had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.23 billion. As a group, analysts predict that QUALCOMM Incorporated will post 8.02 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be paid a dividend of $0.85 per share. The ex-dividend date is Thursday, December 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.98%. QUALCOMM’s payout ratio is 45.70%.

Insider Activity

In other QUALCOMM news, insider Alexander H. Rogers sold 3,245 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $166.15, for a total transaction of $539,156.75. Following the sale, the insider now owns 32,231 shares of the company’s stock, valued at approximately $5,355,180.65. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Alexander H. Rogers sold 3,245 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total value of $539,156.75. Following the completion of the transaction, the insider now owns 32,231 shares in the company, valued at $5,355,180.65. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total value of $497,850.00. Following the sale, the chief financial officer now owns 51,437 shares in the company, valued at approximately $8,535,970.15. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,245 shares of company stock worth $3,679,407 over the last 90 days. 0.08% of the stock is currently owned by corporate insiders.

About QUALCOMM

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, computing, multimedia, and position location products.